Report: Conde Nast Finalizes One World Trade Center Lease

NEW YORK (CBSNewYork/AP) — An official said magazine publisher Conde Nast has finalized a lease to move into a million square feet of the signature skyscraper at the World Trade Center site.

WCBS 880’s Rich Lamb: It’s A 25-Year Deal

The official familiar with the lease negotiations told The Associated Press that Conde Nast and the trade center site’s owner have agreed to a 25-year, $2 billion lease.

The official was not authorized to speak publicly about the matter ahead of a scheduled lease signing today and spoke to the AP on condition of anonymity.

Executives from Conde Nast and the Port Authority of New York and New Jersey were scheduled to make an announcement on the 34th floor of the building Wednesday.

Are you satisfied with the redevelopment of the World Trade Center site? Sound off in our comments section below…

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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  • Michael H.

    This is great news for downtown! The other media companies wont be far behind and it will definitely help revitalize the area.

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